The future of automotive loyalty - A Beehive Research White Paper - BEEHIVE
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BEEHIVE The future of automotive loyalty A Beehive Research White Paper 1
BEEHIVE
1. Customer loyalty in automotive –
what has changed and what impact have
these changes had?
The challenge facing car manufacturers So what evidence is there of declining loyalty Our research, first conducted in 2013,
Customer loyalty matters to car manufacturers. within the automotive sector? focused on customer loyalty in the utilities and
But does it matter to car buyers? There There have been a number of reports into insurance sectors and produced a segmentation
are signs that their loyalty is under threat consumer purchasing behaviour in the of consumer groups based on their attitudes
from increased competition among car automotive sector in the past few years. toward switching provider. This was followed
manufacturers, a general trend away from Most reveal key trends based upon consumer by a study in 2014 that explored consumer
brand loyalty, and new emerging ways to access behaviour but do not try to explain them or to attitudes to marketing promotions and how
car services. link them to consumer psychology. these relate to their loyalty persona.
Our approach to understanding customer In 2015, we focused on automotive loyalty in
loyalty in the automotive sector began by the UK using the segmentation we developed
reviewing research that had already been during our first study as the basis for our
conducted; we took an in-depth look at how research. We undertook a combination of face-
the world has changed; and then conducted to-face and online interviews among 2,024
a series of bespoke studies that explored new car buyers to understand their decision-
consumer attitudes to automotive brand making processes and how these have changed
loyalty. over time. Our findings validate and expand
upon what others have also found.
“We interviewed 2,024 new
car buyers to understand
their decision making
processess”.
2
BEEHIVE
What are the key things that
we and others have learned?
Brand loyalty is fading among car buyers1 Consumers are doing more homework before
The main reasons for this are: buying 5
• We are buying cars less frequently. Today, car buyers visit between one and two
dealerships on average while shopping for a car.
• We shop around constantly, even at the car
Ten years ago, the average number visited was
dealership.
five.
• The automotive industry is changing rapidly –
and so are car brands.
Don’t dismiss disloyalty
Almost one half (48%)6 of new car owners
Longer term owners are less loyal than
haven’t decided if they will choose the same
newer owners2
car or brand again next time. Even those who
Only 34% of those who have owned their car are usually loyal to brands or suppliers in other
for at least 12 years would purchase their next sectors are less loyal to their car brand –
vehicle within the same brand family, compared indicating that holding onto customers is more
to 57% of those who have owned their car for of a challenge in the automotive sector, even
up to 12 months. compared to the Utilities and Insurance sectors.
Brand loyalty among car buyers is dying a slow Owing to the fact that consumers are
death3 conducting research online, we find they are
• 79% percent of car buyers research vehicles more informed of the options available to them
online. prior to visiting dealerships. It is partly for this
• 50% are open to buying any car brand, rising reason that they are less likely to simply buy the
to 54% of Millennials4. same brand of car as they already own again, “79% of car buyers
•P
urchasers are no longer considering one or
particularly if they have owned their existing car
research vehicles online”.
for many years.
two select brands, they review the market.
1. Experian 2012 http://business.time.com/2012/10/30/why-brand-loyalty-is-fading-among-car-buyers
2. Experian Automotive https://www.experianplc.com/media/news/2014/analysis-shows-that-the-longer-consumers-hold-onto-vehicles/
3. JD Power’s 2013 New Autoshopper Study http://www.thecarconnection.com/news/1086885_j-d-power-confirms-brand-loyalty-is-dead-especially-among-millennials
4. Millennials (also known as the Millennial Generation or Generation Y) are the demographic cohort following Generation X.
There are no precise dates when the generation starts and ends; most researchers and commentators use birth years ranging from the early 1980s to the early 2000s.
5. McKinsey 2013 Retail Innovation Consumer Survey
6. Beehive Automotive Loyalty study 2015
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BEEHIVE
So what has changed that has impacted Other changes include the expansion of car Arguably, however, the biggest impact on
automotive loyalty? ranges and models within brand families, automotive loyalty has been the rise of the
The automotive industry is only 120 odd years and the convergence of vehicle designs, internet and the availability of increasing
old, yet in that time it has undergone some particularly among those produced for mass sources of information, as well as consumer
major changes, most of which have happened market. The latter has meant that key points comments on social media and pricing
in the last 60 years. Once a localized, country- of differentiation and perhaps the reason for information on comparison sites. Through our
specific industry, car manufacturing and remaining loyal to a particular car brand have research we found that those most likely to
distribution has become increasingly globalised. been minimized – the reliability and quality of switch car brands were also most likely to use
With these changes there has evolved a vehicles has, for example, greatly improved car review websites as part of their decision-
general acceptance and trust of foreign brands, across the board. making process when buying a new vehicle.
though localised loyalty to ‘native’ brands is still However, other factors also play a role, and
exhibited to some extent. these are something we will explore in the next
section.
4
BEEHIVE
2. Customer Loyalty in automotive
– how do consumers make decisions?
an impact on the rational and emotional factors
that influence their purchasing decisions and
their experience. For example, if a dealership is
not in close proximity to a customer they are
less exposed to the brand and less likely to visit
as part of their purchase journey. They also may
simply reject the brand based on the perceived
difficulty of servicing.
We also see that even with the extensive
globalisation that has occurred there are still
regions within the world and countries and
where ‘tradition’, ‘peer pressure’, or ‘a stronger
sense of national pride’ still have a big impact on
their choice of car.
Our research confirmed that the majority
What factors impact car buying? Consumers’ experience of the vehicle and the
of car buyers, nine out of ten, state that a
Consumers have always been influenced car brand (e.g. its customer service) also have
rational examination of the benefits of a new
by conflicting needs, desires, and practical a real impact on their purchase decisions and,
car, including its price, played a role in their last
considerations when purchasing a car. Just critically, on loyalty. It is within car brands’ power
car purchase decision. However, while rational
what these needs, desires and practical to ensure the customer has a good experience,
reasons are cited most often as impacting
considerations are is constantly evolving. but real brand engagement with consumers
purchasing decisions, those who switch car
However, underlying them and helping to shape at appropriate points during the customer
brands most often base their decisions on
what cars consumers buy are: lifecycle is often lacking. The depth interviews
emotional factors (e.g. the look of the car) as
we undertook reveal that consumers are more
1. Rational elements well as the rational ones (e.g. the specification
likely to be loyal if they feel valued, like part of a
2. Experience of the car, its features, price and deals).
family, or have had a good customer experience.
3. Emotional elements Switchers are also savvier about deals due to
Their resulting trust in the brand makes them
their frequent use of price comparison or car
4. Culture and location want to give it another go.
review websites. Those who are loyal to their
car brand base their decisions more on their
Rational elements are likely to be the starting Emotional elements consist of passion and experience with the brand. Consumers also
point for many car buyers’ decision-making. desire, including wanting to have a car that indicate that they feel more valued by the brand
Their life-stage and budget, for example, will reflects the image and status that you want if they are rewarded for loyalty through good
impact their shortlist of car brands. to project. These are more unpredictable deals on their next new car.
than rational elements and therefore aren’t
necessarily good news for brands when it comes
In addition to the factors already mentioned,
to encouraging loyalty. New models, the latest
family members also have an impact on new car
gadgets, or simply the look of another car can
choice. A recent study, published in September
move consumers to switch.
2015, found that wives, husbands and partners7
are a major influence on car purchasing
Where consumers live in the world or even decisions in the UK, with 25% of people citing
where specifically within a country can also have them as the greatest influence.
7. Rocketfuel http://rocketfuel.com/uk/under-the-thumb-spouses-and-partners-are-biggest-influence-on-car-purchasing-decisions/
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BEEHIVE
Dealer
Experience
Does the internet encourage disloyalty?
We all know that the internet and onset of Purchase/ WoM
comparison websites have made it easier for Service
consumers to research their options and to
seek opinion and recommendations. They
can even be seen to have encouraged this
behaviour, as has social media. According to We Love
Beehive’s research, 20% of those stating they Brand X
intend to switch car brands have one or more
social media accounts, compared to 12% who Warranty & Social
are loyal to their car brand8. Half (50%) of Breakdown Media
those in the market to buy a different brand
have conducted research using a car review
website or magazine, compared to 36% of
those who are interested in buying the same
brand again.
Brand Advertising
Are extended warranties the key Experience & Reviews
to keeping car buyers loyal?
Dissatisfaction with the warranty experience, Product
when faults occur, and the reliability of vehicles & Design
drive almost half (48%) of car owners to Features
switch brands when they next purchase a car.
Correspondingly, we see a strong correlation
between warranty and reliability satisfaction so as ‘hygiene’ factors that come with a level they next renew their car. There is an argument
with car brands, and the proportion of loyal of expectation, which if not met can lead to here that the longer the warranty the more
customers they enjoy. Dissatisfaction ‘triggers’ switching. important it is for a brand to stay in touch with
must therefore be managed by a brand to their customers, to maintain a good relationship
ensure a good overall customer experience and with them between purchases. This will help
From an acquisition perspective, the reliability
encourage loyalty. customers to feel more valued and can even
and the offer of a warranty in case things do
help brands to identify the optimum time to
go wrong remain attractive. From a retention
encourage customers to purchase a new car
As vehicles have become more reliable over perspective, they are also important, but it is
before their warranty expires.
the years, a key point of differentiation has how things are managed when they go wrong
disappeared, and this has arguably made that is most likely to impact switching behaviour.
switching between brands easier. Reliability and What this means for car manufacturers and
warranty are still important, but perhaps more dealers is that car brand loyalty isn’t blind. It has
The length of the warranty offered poses a
to be earned rationally. A positive experience
conundrum. Offering a long warranty may
combined with the commercial appeal of a
help with acquisition, however, as Experian’s
brand is essential. Brands have to make their
2014 study9 shows, the longer a person owns a
benefits clear at the point of re-evaluation,
vehicle the less loyal they become. Conversely,
when the customer is considering which car to
long warranties aren’t a guarantee that will
purchase next.
prevent customers from switching brands when
“when faults occur, dissatisfaction with the warranty
drives 48% of car owners to switch brands when they
next purchase a car”.
8 Beehive Automotive Loyalty study 2015
9 Experian Automotive https://www.experianplc.com/media/news/2014/analysis-shows-that-the-longer-consumers-hold-onto-vehicles/
6
BEEHIVE
3. Loyalty in automotive
– segmenting loyalty attitudes and
deconditioning Switchers
What are attitudes towards loyalty among new Very likely to
car buyers? search for offers
Using the segmentation we developed for our
first study into consumer attitudes towards Conditioned Switchers™
loyalty and switching as the basis for our
(22%)
research into automotive loyalty, we identified
three main segments: Neutral / Unengaged
(33%)
• Conditioned Switchers™ – i.e. those more
likely to look for new car offers and to switch
car brands Very unlikely to Very likely to
switch Car brand switch Car brand
• Neutral – i.e. those who are disengaged with
the process
• Loyalists – i.e. those who tend to engage
more with and to be loyal to car brands Loyalists (46%)
Very unlikely to
search for offers
The proportion of Loyalists vs. Conditioned So what now for loyalty?
Switchers™ differs by car type and brand. The latest trade industry figures show that
Luxury brands typically have a higher proportion UK new car sales hit an all-time record high
of Loyalists and buyers are more likely to state in 201510, driven by stronger consumer
quality, value retention and design/image/status confidence, special deals and cheap finance.
as reasons for buying the brand.
But with more new cars being sold, can car
What became clear from our research was that manufacturers hold onto their customers?
car brands that have had aggressive acquisition
campaigns do show a higher proportion of
Conditioned Switchers™, which may be good in What is clear is that it is no longer enough to
the short term but retention strategies will be have a strong brand. Nor is it a case of the
needed to keep them. job being done once a car is sold because
loyalty is not only dependent on providing a
great product that has a warranty just in case.
Ultimately, consumers want a sustained positive
brand experience. Consequently, brands
need to take a holistic approach to loyalty
“ultimately consumers want and to provide a seamless experience through
a sustained positive brand customer service, operations, communications
experience” (both on and offline) and personnel. Brands are
only as strong as their weakest touchpoint.
10 BBC http://www.bbc.co.uk/news/business-35249044
Car Magazine http://www.carmagazine.co.uk/car-news/industry-news/ford/uk-2014-car-sales-analysis-winners-and-losers/
SMMT http://www.smmt.co.uk/category/news-events/news/news-registration-cars/
FT http://www.ft.com/cms/s/0/00cd2d0c-e40b-11e4-9039-00144feab7de.html#axzz3hvsbGfut
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BEEHIVE
Are my customers at risk?
Two thirds (65%) of Conditioned Switchers™
have proven to be disloyal to their car brand and
can be classed as customers at risk. Sizing this “the webroom has replaced
segment is therefore a valuable – and reliable –
the showroom as over 7 out
measure for comparing your brand’s risk status
to that of your competitors.
of 10 drivers now do their
research online”
How can I align marketing strategies with
loyalty segments?
Acquisition strategies – make it easy to meet Make test drives less testing?
Knowing the proportion of Conditioned
the brand Car buyers expect more and more
Switchers™ and Loyalists your brand has can
be used to inform retention and acquisition Take the showroom online? convenience. More than two thirds of motorists
strategies, ideally in combination with existing Consumers are increasingly researching their are searching for a new car between the hours
customer segment strategies. For example, a next new car online. Especially those who of 6-9pm and 57% of buyers expect a response
strategy focused on new customer deals will have a propensity to switch. The webroom has within just four hours, even outside traditional
attract Conditioned Switchers™. However, it apparently replaced the showroom as over 7 out working hours. 59% of Auto Trader users now
may also have a negative impact on Loyalists, of 10 drivers now do their research online,11 and use their smartphone to search for cars.12
who often feel that it is always new customers only visit the dealership as their last port of call. That’s six times more than did so in 2010. And
who are rewarded with the best deals. It is also Increasingly, too, major players including Ford those who employ smartphones during the
worth bearing in mind that, while it is possible to UK, Dacia and Tesla are moving the entire sales buying process purchase their car quicker on
decondition and retain Switchers by providing process online, including the purchase itself. average. We expect Conditioned Switchers™
a sustained positive customer experience, Yet many manufacturers are lagging behind, who frequently conduct online research before
it is harder to hold onto these customers in offering simple car ‘spec’ websites. It’s time for making a purchase are at the forefront of this
comparison to Loyalists who feel more engaged dealers to engage with consumers where they trend.
with the brand in the first place. are online, particularly if you want to persuade
Conditioned Switchers™. In order to respond to consumers’ need for
speed and convenience, dealers could take the
Example: In the United States, Toyota is car to the consumer to test drive. They could
evolving the virtual showroom model in new even take the updated model of the car the
and interesting directions. Their ‘SaleMove’ customer already owns, just before the driver is
service allows the consumer to configure likely to consider switching.
vehicles, check stock, select a dealer, and
pre-negotiate financing, all before setting Example: The Holden Group now provides
foot in the dealership. Should they wish to, test drives from your home in the UK for
the consumer can also chat directly with a Honda, Renault, Dacia and Volvo vehicles
dealer using text or audio functions. Simply (holdengroup.co.uk/test-drive).
put, ‘SaleMove’ takes the showroom to the
consumer.
“dealers could take the
car to the consumer to
test drive”
11 JD Power’s 2013 New Autoshopper Study http://about-us.autotrader.co.uk/more-than-7-in-10-turn-to-dealer-websites-when-buying-their-next-car/
12 Autotrader http://advertising.autotrader.co.uk/brand/research/car-buyer-behaviour#.VpJsG_mLTIU.
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BEEHIVE
Retention strategies –
Ways to hold onto Loyalists and decondition Switchers
Use data to fuel customer relationships Example: Rolls Royce contacts customers a new car within the brand family before the
A good customer relationship management on their birthday to say hello and make warranty on their existing vehicle runs out could
system is not simply a way for the sales contact. be advantageous.
division to keep tabs on its customers, but for
the entire business to stay ahead. With truly Car brands can also learn how to ‘surprise and Example: Kia offers a
personal customer profiles, brands can optimise delight’ their customers from brands in other seven year warranty,
communication to offer customers relevant sectors. while Hyundai, Subaru
services they will respond positively to, rather and Toyota all offer
than use general, unfocused advertising. Good five years cover. Now
data management also allows brands to respond Example: MasterCard ‘Priceless Surprises’.
too, Jaguar Land
more quickly, reducing customer anxiety in the MasterCard is now connecting with
Rover has introduced a two-year warranty
process. members on social media to give them
for all approved used vehicles.
spontaneous gifts and prizes, like a meeting
with Justin Timberlake, an exclusive Gwen
Devising a highly sophisticated real-time Stefani concert, or even VIP tickets to the Make ownership easy
customer satisfaction/experience programme Grammy Awards. The effort required to maintain a car is
that goes beyond an NPS13 score and verbatim
considerable, with insurance, road tax,
comment significantly improves a company’s
Couldn’t car brands apply the same principle? congestion charges, servicing, petrol and
ability derive what is most important, manage
parking fees, and so on. Customers will thank
customers in real-time and enhance their
you for making it easier. Car leasing services
customer experience. Encourage car renewal at optimum point in offer the opportunity to take a lot of effort away
customer journey from customers.
Data also allows you to anticipate customer The pace at which brands are embracing
needs, rather than wait till problems occur extended warranties indicates that car brands
Consumers are often lazy and will go for an easy
– the secret to a happy customer. We know are recognizing their sales power, and the need
option, however with every acquisition strategy
from our research into loyalty that consumers to keep up. But brands should also keep in
a new benchmark is set which can be beneficial
generally bemoan the lack of genuine moments mind that the longer a customer holds onto
to retention or not, if a similar perceived deal is
of ‘surprise or delight’ offered by brands. By their car the more likely they are to switch.
no longer available.
recording not only a customer’s demographics A considered approach is important. It is
but their preferences and passions as well, necessary to strike the right balance between
the opportunity is there for car brands to offering a warranty that is attractive enough in Example: Peugeot’s ‘Just add fuel’
build a more personal engagement with their length to a prospective buyer, but isn’t too long is an approach to leasing that
customers. that they move on anyway. Having a strategy provides most of the essential
in place to encourage customers to switch to car maintenance services and
support in exchange for one
monthly payment, so all the driver has to
worry about is filling up.
“the opportunity is there for
car brands to build a more
personal engagement with
their customers”
13 Net Promoter Score a registered trademark of Fred Reichheld, Bain & Company, and Satmetrix
9
BEEHIVE
Create strong ties with consumers Reward loyalty Example: Enterprise Car Rental offers
through tech We found in our 2014 research into attitudes “rewards and appreciation you deserve with
People are no longer happy to go from A to B to marketing promotions and how these relate the Enterprise Plus® programme. Join
unless it involves going via their mobile device. to their loyalty persona, that one of the biggest today and start earning points that never
With the launch of Apple’s Carplay, and rival issues loyal consumers complained about was expire. Then redeem your points for free
technology from Android, smartphones are the fact that new customers were often offered hire days — with no blackout dates— at
becoming deeply integrated into the car’s better deals than they were for staying loyal. thousands of participating Enterprise®
dashboard. But that’s just the start. 50% of locations worldwide.”
us already use connected navigation services,
Rewarding loyalty is something that car
with a further 24% hoping to start.14 In the not Example: Last year Hyundai announced
rental services already do15, but it’s not yet
too distant future all cars will be part of a wider ‘Hyundai Rewards’ in the US. The
commonplace when it comes to car buying.
connected ecosystem that can automatically comprehensive engagement programme
To make customers feel more appreciated
turn on home heating, open garage doors or rewards owners for shopping online and
and engaged with the brand, the re-purchase
book service appointments, instead of a few servicing their vehicles at dealerships
process needs to be easier, seen to be fair and
pioneer brands that are leading the way. participating in the scheme. Customers earn
rewarding them for loyalty and a deal that is
perhaps not available to a new customer? There points for every dollar they spend shopping
Whilst this is an opportunity for car is evidence that this is starting to happen, but online through the ‘Hyundai Rewards’
manufacturers to integrate into customers’ is there a place for a sliding scale of rewards site, and every time they visit the service
lives outside of the car, to create a deeper bond that increase over the lifetime of the brand department of a participating dealer.
with them and arguably make it less likely that relationship?
they will leave them, this is no guarantee. To
make it really work brands need to look at how
Apple commands such fierce loyalty. All of its
devices interconnect beautifully, incentivising
customers to stick with the brand. Apple is
not just about buying a product, but an entire
ecosystem.
Example: Jaguar Land Rover has announced
the launch of ‘justDrive’. Optimised for
its ‘InControl’ platform and both Apple
iOS8 and Android phones, ‘justDrive’
integrates popular apps and services such as
Spotify, Twitter and Yelp into a connected
experience that provides navigation,
media, social interaction, voice search and
information.
Example: Tesla has introduced a ‘member-get-member’ scheme, through which existing
customers are rewarded with $1,000 for referring a new customer, and the new customer
gains a similar discount.
14 Accenture https://www.accenture.com/us-en/insight-automotive-connected-vehicle
15 Enterprise Car Rental – Enterprise Plus® programme
10BEEHIVE
4. Customer Loyalty in automotive
– the future
Moving forward a car more sustainable: that they have the right
Our findings show how important it is for both product for now and the future.
manufacturers and dealers to look at what
prompts consumers to be loyal or turn into Beyond this, if car brands are to encourage
Switchers and to model their retention and repeat purchase as mentioned before, brands
acquisition strategies accordingly. need to ensure they provide the best customer
experience across touchpoints and have
Competition from other directions an engagement strategy that is maintained
between purchases.
As we have seen, loyalty in the automotive Future trends
sector has been impacted over the years by
New car sales have been on the increase in the
various developments both within and external But, what is the role of the dealer going to be
last two years across Europe, so what does the
to the industry. With car ownership facing in the future? With more and more people
future hold for automotive manufacturers?
increased competition and disruption from researching potential new cars online and only
According to Goldman Sachs17, there are four
new models of car use, maintaining customer visiting dealers once a decision has already been
themes shaping a profound transformation of
loyalty for particular car brands is only likely to made, their level of control over the purchase
the car industry:
get harder. process is reduced. However, dealers can be a
1. There is pressure from consumers and powerful tool in helping to maintain customer
regulators to produce green cars. loyalty. Through successful customer contact
The rise of the likes of car hire app Zipcar
2. An aging population is driving demand for programmes with customised contact at key points
and car-sharing service BlaBlaCar present
safety, leading to fertile environment for along the customer journey, dealerships can build a
fresh opportunities to consumers beyond car
self-driving cars. direct, long-lasting relationship with customers. By
ownership. Car sharing services are predicted
3. An increasing demand for affordability, getting customer communications right, dealers
to surpass 12 million members worldwide by
especially in developing countries, is can turn customers into loyal advocates, which in
202016. And urban centres are looking to
accelerating technical developments in terms turn will reward the bottom line.19
implement new personal transport networks
using technology such as driverless vehicles and of fuel efficiency and lighter production
transportation pods. materials. The automotive industry has seen many changes
4. T he growing cost of car ownership and regarding customer behaviour, particularly in
fact that private cars aren’t being used recent years. It is imperative for car brands to
Similarly, online taxi business Uber has been
95% of the time is leading to demands for amend their acquisition and retention strategies
seeking a piece of the action with its UberPop
convenience and car sharing or matching to reflect these. Research into the customer
operation, which links private drivers to
services. This demand is also set to increase journey, personalities and requirements, and use
passengers. Whether brands can capitalise on
with 35% of Millennials indicating that they of insight to inform marketing strategies is vital
these new channels and turn them into a brand
would consider sharing a car compared to 7% to stay ahead of the competition.
extension opportunity remains to be seen but
of Generation X and Baby Boomers.18
they certainly shouldn’t be ignored.
Brands that track and monitor loyalty segments
Taking these developments and future trends such as Conditioned Switchers™ among their
into account, what is the likely impact on car customers in association with their retention
loyalty? Is the idea of repeat purchase under and acquisition strategies will have an advantage
threat? Fundamentally, it is critical that car over competitors and have another tool by
brands invest in technology that makes owning which to predict and manage loyalty.
16 Navigant http://www.navigantresearch.com/research/carsharing-programs
17 Goldman Sachs http://www.goldmansachs.com/our-thinking/technology-driving-innovation/cars-2025/index.html
18 Footnote on generations (see next page)
19 Car Dealer Magazine http://cardealermagazine.co.uk/publish/blog-can-dealerships-drive-brand-loyalty/91882
11BEEHIVE
Product satisfaction Service Experience Sales Experience Loyalty/rejection
Beehive research are as passionate as you are about giving your
customers the best possible experience of your business and brand.
So we take an active approach to Customer Satisfaction and
Voice of the Customer programmes. Working with you, we deliver
the insight and understanding that puts the customer at the heart of
your business. We believe that this approach – rather than passively
relying on scorecards and metrics – truly brings the customer
experience to life and allows our clients to proactively manage it.
For further information please get in touch,
and we’ll be happy to help.
info@beehiveresearch.co.uk
beehiveresearch.co.uk
www.linkedin.com/company/beehive-research-limited
@beehiveresearch
Footnote on generations:
• Baby boomers are people born during the demographic post–World War II baby boom approximately between the
years 1946 and 1964, giving an age range between 51 and 70 as of 2016.
• Generation X, commonly abbreviated to Gen X, is the generation born after the Western Post–World War II baby
boom. Most demographers and commentators use birth dates ranging from the early 1960s to the early 1980s.
• Millennials (also known as the Millennial Generation or Generation Y) are the demographic cohort following
Generation X. There are no precise dates when the generation starts and ends; most researchers and commentators
use birth years ranging from the early 1980s to the early 2000s.
Conditioned Switcher™ – is a trademark of Beehive Research Ltd
© 2016. Beehive Research
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